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This may appear to be just economics but will have significant political repercussions, imo. The timing coincides with Biden running low on US oil reserves to release and could put a double whammy on market supply.

OPEC+ to Consider Oil Output Cut of More Than 1 Million Bpd

The output cuts are being considered on the back of a slide in oil prices from multi-year highs reached in March and market volatility.

Saudi Arabia, OPEC’s de facto leader, first flagged the possibility of cuts to correct the market in August.

[newsmax.com]

Garsco 8 Oct 3
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The Saudis are only interested in profit, the Buy-den administration is only interested in suffering. Their interests coincide.

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